Gold Trading At New Historical Highs

The price of gold is now trading at new historical highs. The December 2010 gold futures contract on the Chicago Mercantile Exchange hit $1276.50 per ounce yesterday in a volatile session.

Gold is used as a hedge against volatile markets especially when traders perceive troubled economic times are ahead. For the year, the precious metal is up over 15% and is on the road to make its tenth year of continual increase.